Friday, 25 July 2014

According to a new market report published by Transparency Market Research "Anti-agingMarket (Anti-wrinkle products, Hair Color, Hair restoration treatment, Breast augmentation and Radio frequency devices) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019" the global Anti-aging market was valued at USD 122.3 billion in 2013and is expected to grow at a CAGR of 7.8% from 2013 to 2019, to reach an estimated value of USD 191.7billion in 2019.

Aging is defined as cycles of biochemical activities in the body caused by factors which affect body over a period of time internally as well as externally and leads to degeneration of body affecting beauty, health and fitness of an individual. Anti-aging market has evolved over centuries and modern technology has contributed with widening its reach in products, services and devices. Anti-aging products provide a market which has high adoption as it is comparatively affordable and available than services and devices. Services market has been divided into the cosmetic surgeries and non-invasive treatments which involve certified medical practitioners, plastic surgeons and skilled beauticians. Services market for Anti-aging is expected to grow at CAGR of over 5% from 2013 to 2019.

Baby boomers (born 1946 -1964) a generation which was born in an era of inventions and revolutions are considered to be the most successful generation of 20th Century. Baby boomers are most potential drivers of anti-aging market as they are aging and getting more aware about the available anti-aging products, services and devices. In 2012, the first of the baby boomer generation reached near retirement age and it is estimated that for the next 18 years baby boomers will turn 65 at a rate of 8,000 individual per day. Anti-aging products market is considered to be the largest market in terms of revenue and it shows opportunity for new products which are safe and highly efficient. Anti-aging market is still evolving and contended with skepticism and incompatible clinical results related with the actual health and appearance benefits of many widely marketed products and services. The technological development and stringent regulations have helped this market to regain trust and belief of customers.

Asia-Pacific and Rest of the World (RoW) are expected to be the next potential destinations for anti-aging market. China, South Korea, Japan and India are observed to be the most attractive destinations for cosmetic surgeries and governments of these countries and are promoting medical tourism for cosmetic surgeries which is believed to be one of the market drivers of these countries' anti-aging market. Brazil and Mexico are the major countries from RoW which are leading the anti-aging market. The developing economy of these regions and awareness about aging signs in men and women has made these regions as future attractive markets for anti-aging.